Security devices, such as, for example, padlocks and other types of conventional locks are known in the art, used, for example, to prevent access to a room, building, container, or piece of equipment. Exemplary padlocks include those opened by a key and those opened by manipulation of lock components in accordance with a unique combination. Locks that are opened by a combination require the operator to remember a series of numbers or symbols, and in some cases may be time consuming to open. If the operator cannot remember the combination, the lock must be removed by other less convenient methods, such as, for example, by a bolt cutter. In such a case, the damaged lock must be replaced, resulting in additional inconvenience and expense. Locks that are opened by a key present the risk of key loss or key theft, resulting in a greater potential for unauthorized access to the lock, particularly in cases where the key may be easily duplicated. Again, the replacement of a lock for which security has been compromised results in additional inconvenience and expense.